Dismissing the appeal of the Revenue the Court held\u00a0 that the Principal Commissioner had failed to satisfactorily record his concurrence. Mere penning down the expression \u201cyes\u201d could not be considered to be valid approval. Though the Assistant Commissioner had appended his signature by writing in his hand \u201cYes, I am satisfied\u201d, the Principal Commissioner had merely written \u201cYes\u201d without specifically noting his approval, while recording the satisfaction for issuance of notice under section\u00a0148\u00a0for reopening the assessment under section\u00a0147. Therefore, the order of the Tribunal holding that the Assessing Officer had initiated the reassessment proceedings on the basis of borrowed satisfaction and that the prescribed authority had granted approval under section\u00a0151\u00a0in a mechanical manner need not be interfered with. (AY.2009-10)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 151 : Reassessment-Sanction for issue of notice-Merely stating \u201cYes\u201d-Non-application of mind-Notice And Reassessment Proceedings Invalid. [S. 147, 148, 260A] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-47468","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-clC","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/47468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=47468"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/47468\/revisions"}],"predecessor-version":[{"id":47469,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/47468\/revisions\/47469"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=47468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=47468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=47468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}